The solicitation targets holders of €650 million in 5.375% notes and £375 million in 7.375% notes. Investors who validly deliver consents before the October 23, 2026, deadline are eligible for a cash payment of €2.50 per €1,000 or £2.50 per £1,000 of principal. The proposed amendments aim to update definitions within the indenture to account for the ownership transition following the share purchase agreement signed on October 7.

While the acquisition by Oak UK Bidco Limited is expected to close in the first half of 2027, the effectiveness of these amendments is not a condition for the deal's completion. The company notes that the amendments will only become operative immediately prior to the effective time of the acquisition. If the requisite majority of bondholders fails to consent, the indenture will remain unchanged and no fees will be distributed. Morgan Stanley & Co. LLC and CIBC World Markets Corp. are managing the solicitation process.